A new survey of 2,500 consumers found that a large number -- 21 percent -- are interested in purchasing an iPad, which has led one prominent analyst to project 7 million sales of Apple's new device in its first 12 months on the market.

With an aggressive $499 starting price point, Wall Street analysts believe Apple's e-reading, game playing, media consuming iPad device is a worthwhile risk that will become a multi-million seller in its first year.

Apple beat most Wall Street analysts' expectations Monday when it reported its most profitable quarter ever, but the impending product announcement scheduled for Wednesday is what everyone is really waiting for.

Selling an estimated 5 million units in its first year as a "base case" scenario, Apple's tablet would earn the company $2.8 billion in additional revenue and solidify it as more than a niche product, a prominent investment baking firm said Friday.

While rumors have suggested Apple is courting print publications to deliver content on its anticipated tablet device, company executives recently said they see problems with the current business model.

Apple is due to report its quarterly earnings on Monday, and the Mac maker is predicted to exceed Wall Street expectations with blockbuster Mac sales, according to two research notes released Thursday.

Despite the fact that no one has seen it, a new survey says that 21 percent of buyers are interested in purchasing an Apple tablet device. That demand, along with strong Mac and iPhone sales, is expected to propel the company's stock.

With more and more evidence pointing to Apple's 2009 iPhone lineup consisting of three distinct models, the Royal Bank of Canada is the second investment firm to predict that one of those models will be a repackaged version of the existing 8GB iPhone 3G that will see its price tag lopped in half.

The Royal Bank of Canada is maintaining its bearish near-term outlook on shares of Apple, claiming that although consumer interest in a new version of the iPhone remains healthy, sales of the new device are unlikely to provide the company with the same boost seen during the transition from the original iPhone to the iPhone 3G.

Although Apple has downplayed the possibility of a stripped-down iPhone, the Royal Bank of Canada is reiterating claims this week that the company is gearing up to announce two new versions of its touch-screen handset, including an entry-level model that lacks both 3G connectivity and an unlimited data plan.

The Royal Bank of Canada cut its price target on shares of Apple friday to $70 from $125 and also downgraded the stock to 'Underperform' on concerns of reduced earnings growth as well as uncertainty about the company's leadership.

Shares of Apple bled more than 17 percent of their value in Monday morning trading on the Nasdaq stock market after analysts for investment banks Morgan Stanley and RBC Capital both downgraded their outlook on the company, citing a worsening consumer environment.

Apple could announce sales of more than 4 million 3G iPhones at its media event next week, according to investment bank RBC Capital Markets, which also suggests the company may be looking into a low cost "iPod phone" to build on its momentum.

The investment banking division of the Royal Bank of Canada said Thursday that Apple's back-to-school promotion is showing signs that it will drive the company to a record-smashing quarter in which sales of Macs could exceed 3 million.